What MyHSA does

MyHSA is a Health Savings Account (HSA) platform offered by EPIC Retirement Plan Services, a retirement plan administration firm headquartered in Peoria Heights, Illinois and a subsidiary of NBT Bank. The platform serves three customer segments: individual employees enrolled in High Deductible Health Plans who use HSAs for tax-advantaged medical savings and retirement healthcare planning; employers who offer HSAs as part of HDHP benefits packages; and financial institutions and benefits brokers who white-label or resell the platform with custom investment menus and branded programs. The platform operates across all 50 US states.

The underlying technology is a cloud-based HSA administration platform with a unified account architecture that holds both cash and investments in a single account. Contributions above a $200 cash threshold are automatically allocated to investment options including Target Date Funds, Risk-Based Portfolios, build-your-own portfolios, and a MetLife Guaranteed Fund (3.47% rate through September 2026). A MasterCard debit card provides access to 95% of the total balance (cash plus investments) without manual transfers. The platform includes 24/7 web and mobile access, an HSA contributions calculator, FileSafe for secure employer document uploads, and employer-facing reporting dashboards covering active employees, contribution summaries, and distribution reports.

The business model is subscription-based, charging HSA account holders a $4.50 monthly administration fee with no setup fees. Additional revenue is generated through investment management fees via underlying fund expense ratios. The go-to-market combines direct-to-consumer acquisition (online enrollment and a 1-800 phone sales line), employer benefit enrollment, and a partner channel recruiting financial institutions and benefits brokers. MyHSA entered the EPIC RPS portfolio in 2020 through the acquisition of ABG Retirement Plan Services, and EPIC RPS itself was acquired by NBT Bank in 2005.

Name

MyHSA

Legal name

EPIC Retirement Plan Services

Website

https://myhsa.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

MyHSA is a Health Savings Account platform offered by EPIC Retirement Plan Services (NBT Bank subsidiary) that combines cash and investment management in a unified account, serving HDHP-enrolled employees, employers, and financial institution/broker partners across all 50 US states for $4.50/month.

Ownership category

akta.pro rank

Product category

Health Savings Accounts

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Health and Welfare Funds (525120)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

akta.pro secondary industries

High-Deductible Health Plans (HDHP) with HSA-Eligible Coverage (FSAIAFAM), Individual & Family HSA-Qualified HDHP Plans (HLAEABAG)

Keywords

• Health savings accounts
• HSA administration
• Tax-advantaged savings
• Investment-oriented HSAs
• HDHP benefits administration

Headquarters

HQ city

Peoria Heights

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Monthly Administration Fees: Monthly account administration fee charged to HSA account holders. This is the primary recurring revenue stream.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

MyHSA is a Health Savings Account (HSA) platform that combines cash management and investment capabilities in a single account. Account holders receive a MasterCard debit card with access to 95% of total balance (cash plus investments), automatic allocation of contributions between a $200 cash threshold and invested funds, and a menu of investment options including Target Date Funds, Risk-Based Portfolios, self-directed portfolios, and the MetLife Guaranteed Fund. The platform is sold to individual consumers, employers offering HDHP benefits, and financial institutions/brokers who white-label the program.

Product overview

MyHSA is a Health Savings Account platform offered by EPIC Retirement Plan Services. It is a single unified HSA product that combines cash management and investment features in one account. Key components include the core MyHSA Health Savings Account, the MyHSA Investment Options module (featuring Target Date Funds, Risk Based Portfolios, and a guaranteed investment option), the MyHSA Debit Card (MasterCard with 95% balance access), the HSA Contributions Calculator for planning, FileSafe for secure document uploads, and Employer HSA Reporting for organizational management. The platform charges a $4.50 monthly administration fee with no setup fees.

Differentiator

Problem solved

Functional benefit

Products and services

• MyHSA Health Savings Account A Health Savings Account (HSA) platform that combines cash management and investment management in a single account, offering a MasterCard debit card with access to 95% of total balance (cash plus investments), automatic investing of contributions above a $200 cash threshold, and a menu of investment options. Available to individual consumers, employers offering HDHP benefits, and financial institutions/brokers who white-label the program.

Quantifiable outcome

• Access to 95% of total HSA balance (cash + investments) on debit card
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered major and core.

• ABG Retirement Plan ServicesmajorStrategic or Co-development Partner · 1 January 2020ABG Retirement Plan Services, including the MyHSA product, joined EPIC in 2020. This acquisition brought the MyHSA HSA platform into the EPIC RPS family. These firms now operate as the St. Louis and Peoria, IL offices of EPIC RPS.
• RPS BenefitsmajorStrategic or Co-development Partner · 1 January 2018RPS Benefits joined EPIC in 2018, bringing additional retirement plan services expertise. This firm now operates as the St. Louis office of EPIC RPS.
• ADS BenefitsmajorStrategic or Co-development Partner · 1 January 2016ADS Benefits, a retirement and actuarial services firm, joined EPIC in 2016 to complement EPIC's suite of services. This expanded EPIC RPS's capabilities in retirement plan administration.
• MetLifecoreTechnology or IntegrationMyHSA uses the MetLife Guaranteed Fund as its default investment option for HSA funds. Account holders who do not select investment elections have their funds above the $200 cash threshold automatically invested in the MetLife Guaranteed Fund.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Further: HSA platform offering individual and employer HSA administration with investment menus and competitive fees. Direct competitor to MyHSA in the small/medium employer and individual HSA segment with comparable product positioning.
• HealthEquity: Largest independent HSA custodian in the US, serving employers and individuals with HSA, FSA, HRA, and COBRA administration. Direct competitor to MyHSA in the employer-sponsored and individual HSA market, with similar investment menu and debit card capabilities.
• Lively: Modern, digital-first HSA platform with no account fees and strong investment menu positioning. Competes directly with MyHSA for tech-savvy individual HSA consumers and emerging employer benefit programs with similar fee-light, investment-forward messaging.
• HSA Bank (Webster Bank): Major HSA custodian now part of Webster Bank, serving consumers and employers with HSA accounts, investment options, and debit cards. Closely comparable to MyHSA in product set and bank-ownership structure.
• Optum Financial: HSA administration business within UnitedHealth Group's Optum serving employer-sponsored and individual HSAs at significant scale. Competes head-to-head with MyHSA in employer benefit programs and white-label channels.
• BenefitWallet (Conduent): HSA, FSA, HRA, and COBRA administration provider serving employers and individuals. Comparable to MyHSA in benefits account administration with similar employer-channel go-to-market and consumer-facing HSA product.

Broad incumbents

• Wex Health: Wex's HSA/benefits administration business serving employers, banks, and health plans through white-label technology and admin services. Compares to MyHSA's white-label partner model where banks offer branded HSA programs on underlying infrastructure.
• Fidelity HSA: Fidelity's HSA offering, a major incumbent broker-dealer with investment-led HSA product positioning and broad fund menu. Highly comparable to MyHSA's investment-oriented positioning but operating at vastly greater scale as part of a diversified wealth platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MyHSA